Share Tips For Newbie Traders - page 2.

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Quote from: Davidvictorson on February 04, 2023, 01:39:09 PM

If you are an experienced trader reading this, how did you know that you were not wasting your time trading at the time when you felt this way?

My trading passion will always make me feel as if everything I do is correct; I will never consider it a waste of time.
Determination always leads to success, so spending the entire day studying and trading will never be a waste of time for me because, in the end, I will smile when I see the profit I made during that time period.

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Quote from: temple on February 14, 2023, 05:14:45 AM

Quote from: Bananington on February 12, 2023, 02:55:24 PM

Quote from: Davidvictorson on February 04, 2023, 01:39:09 PM

If you are an experienced trader reading this, how did you know that you were not wasting your time trading at the time when you felt this way?

Truthfully, trading has been a waste of time to some people and to others it has not. A way to identify the category you will fall into is to assess your situation and know if you have profited or if you are on the road to profiting from trading. Personally anything I commit myself to that gives me money in small amount, I believe that with more commitment can give me more. Trading a few times, It has not just all been losses, I recorded a few gains so I knew I was not wasting my time. An indication of a waste of time would have been if I was losing more and found whatever I was given as a tip difficult to understand, that is a good indicator that trading is not for someone.

Whether some activity is a waste of time or not should be more in line with your expected utility. If I trade two hours one day and earn 200 USD, it might not have been a waste of time. The next day I trade for two hours and lose 200 USD, and out of a sudden the investment of two hours was a waste of time. Trading is a lot about luck because ultimately you are competing with bots and algorithms. Unless you have some meaningful advantage in information, making money from trading is more about luck I think.

This is not accurate, trading is and will always be about your skill and your ability to implement your strategy as you should, using such a short sample to tell that what you have been doing is a waste of time is a mistake as even a winning strategy can produce long drawdowns.

This makes backtesting your strategy critical as you need to test your strategy for a long enough period so you can see how your strategy performs on different market conditions and assets, and if you obtain positive results then being on the red for some time will not be enough to shake the confidence on your strategy.

temple

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Quote from: Bananington on February 12, 2023, 02:55:24 PM

Quote from: Davidvictorson on February 04, 2023, 01:39:09 PM

If you are an experienced trader reading this, how did you know that you were not wasting your time trading at the time when you felt this way?

Truthfully, trading has been a waste of time to some people and to others it has not. A way to identify the category you will fall into is to assess your situation and know if you have profited or if you are on the road to profiting from trading. Personally anything I commit myself to that gives me money in small amount, I believe that with more commitment can give me more. Trading a few times, It has not just all been losses, I recorded a few gains so I knew I was not wasting my time. An indication of a waste of time would have been if I was losing more and found whatever I was given as a tip difficult to understand, that is a good indicator that trading is not for someone.

Whether some activity is a waste of time or not should be more in line with your expected utility. If I trade two hours one day and earn 200 USD, it might not have been a waste of time. The next day I trade for two hours and lose 200 USD, and out of a sudden the investment of two hours was a waste of time. Trading is a lot about luck because ultimately you are competing with bots and algorithms. Unless you have some meaningful advantage in information, making money from trading is more about luck I think.

Bobrox

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I don't think have any specific tips for newbies when start trading, actually I know cryptocurrency and started trading in Bitcoin just reading with several tips on google and basic information about how to make deposit and withdrawing when having cryptocurrency funds. Actually need close friend when starting trading in cryptocurrency and keep consistency update every bad or good news in daily days to know when right time start investing or selling trading assets.

I have good and bad experienced during beginning trading in cryptocurrency until right now, I am happy if you want ask several basic information about trading and welcome sharing for you, but I don't have any accurate predicting about which one coins have to trade between as short or long term trading.

Bananington

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Quote from: Davidvictorson on February 04, 2023, 01:39:09 PM

If you are an experienced trader reading this, how did you know that you were not wasting your time trading at the time when you felt this way?

Truthfully, trading has been a waste of time to some people and to others it has not. A way to identify the category you will fall into is to assess your situation and know if you have profited or if you are on the road to profiting from trading. Personally anything I commit myself to that gives me money in small amount, I believe that with more commitment can give me more. Trading a few times, It has not just all been losses, I recorded a few gains so I knew I was not wasting my time. An indication of a waste of time would have been if I was losing more and found whatever I was given as a tip difficult to understand, that is a good indicator that trading is not for someone.

JoyMarsha

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Anything that earns you pay is worth doing whether you feel alone when doing it or it takes much of your or not. Trading requires more of a quiet place for concentration. You don't trade in a noisy environment to avoid loss of focus and targets.

I can't assume my trading habit is a waste of time since it pays my bills. I can only consider trading as a waste of time if am not gaining anything from it financially. Apart from that, it is worth my 100% involvement.

Ziskinberg

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Quote from: Davidvictorson on February 04, 2023, 01:39:09 PM

...
If you are an experienced trader reading this, how did you know that you were not wasting your time trading at the time when you felt this way?

You're not wasting your precious time if you are in profit. This means that we manage ourselves to do trading so well.

For newbies, it is really encouraging to see old traders making a great journey in trading but we never have to get jealous of it instead, we just hope that we perform like them. We also have to think that they never got to that level without hard work and suffering so we don't take it easy on this. Newbies must endure courage and motivation in order to reach their goals, and also, must know how to correct every mistake they encounter.

Nheer

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I've had some experience trading, but the best thing for me was that I wasn't completely alone. At first, I started in school by myself with the little I had, but I didn't bother to learn much about it because I thought it would be easy. As a result, I lost a lot of money, and I was getting frustrated and on the verge of giving up when I stumbled into a guy in my class who was also into it. The best part was that he was better than I was, Regardless of how you may feel, you should remain committed as a trader and be prepared for difficulties to come. You don’t necessarily need to trade alone you can find a partner you interact with so you don’t get bored.

Cryptmuster

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Quote from: boyptc on February 10, 2023, 03:16:41 PM

Those that feel boredom in trading, maybe this isn't for them. A business or something that you do becomes boring when you're not enjoying it. But upon getting the positive results, that will change everything.

If it's a financial matter and you're earning from it, that boredom will never be seen as a word again from your perspective because you're having a great time doing it.

You don't get bored once you start making money from anything including trading.

Trading is a very interesting activity, but there are several points: the first is that it takes too much time, and the second is that I compared my results in trading and hold and I see that a simple hold brought me much better results than trading. Therefore, trading has become a non-priority for me, sometimes these are medium-term trades, but now I trade for much smaller amounts, trading has become a hobby, and my main focus is on long-term hold.

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Quote from: Davidvictorson on February 04, 2023, 01:39:09 PM

If you are an experienced trader reading this, how did you know that you were not wasting your time trading at the time when you felt this way?

It's always nice to have a friend to talk with about what to invest and talk about anything about your investment as long as your friends are okay with it and don't backstab you. Depends on what type of trader you are, if you are day-trading and having a grind on trading and feeling bored then I'd recommend to back off a little bit and continue it in few days, it's okay to stop for yourself to avoid burnout. Burnout is really scary.

gabbie2010

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As a matter of fact if you earning profit consistently you will discover that trading is not boring rather you will be looking for another trading setup after closing your previous positions, personally I never feel lonely or bored when trading, when I lose a trade based on my trading strategy I will always look back and analyze my chart to finger out what went wrong whether it's a mistake on my own path or probably the price defied my technical analysis with a view to make necessary amendment to avoid repeating such a mistake thus trading is not wasting of time especially when it's your day job moreso the more time in trading the more your experience.

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Quote from: boyptc on February 10, 2023, 03:16:41 PM

Those that feel boredom in trading, maybe this isn't for them. A business or something that you do becomes boring when you're not enjoying it. But upon getting the positive results, that will change everything.

If it's a financial matter and you're earning from it, that boredom will never be seen as a word again from your perspective because you're having a great time doing it.

You don't get bored once you start making money from anything including trading.

Anyone that is looking to obtain fun while trading is probably looking at the wrong place for this, trading is like any other job and most jobs are boring as hell, however if your goal as a trader is to obtain money, as it should be, and you are good at it then you can surely get some sense of accomplishment as you earn money with your trading skills.

But even then I would not say that it is fun or entertaining, but that does not matter, as you can use your improved finances to do something fun once your trading session ends.

boyptc

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Those that feel boredom in trading, maybe this isn't for them. A business or something that you do becomes boring when you're not enjoying it. But upon getting the positive results, that will change everything.

If it's a financial matter and you're earning from it, that boredom will never be seen as a word again from your perspective because you're having a great time doing it.

You don't get bored once you start making money from anything including trading.

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Quote from: Davidvictorson on February 04, 2023, 01:39:09 PM

Trading can be a lonely and boring business at some point because, you do not have anyone to talk to and are just alone with your computer, phone, or tablet in your room, just trading. And many newbies may at some point think that they are probably wasting too much of their time. If you are in this situation right now, I want you to know that you are not wasting your time.

If you are an experienced trader reading this, how did you know that you were not wasting your time trading at the time when you felt this way?

Trading seems very boring only if one doesn't know what he/she is doing in trading. Sometimes what we don't have knowledge about seems to be boring because we don't know our left and right. The only way to see trading to be interesting is to have more knowledge because it is impossible to see what we know and have ideas about as boring, it is only when their is no positive results in something one tend to lose interest concerning it and see it boring. I felt I was wasting my time when their was no better results, but I had to quit trading at the moment to gain main knowledge.

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Quote from: Davidvictorson on February 04, 2023, 01:39:09 PM

Trading can be a lonely and boring business at some point because, you do not have anyone to talk to and are just alone with your computer, phone, or tablet in your room, just trading. And many newbies may at some point think that they are probably wasting too much of their time. If you are in this situation right now, I want you to know that you are not wasting your time.

If you are an experienced trader reading this, how did you know that you were not wasting your time trading at the time when you felt this way?

There won’t be a waste of time learning and improving your trades because you know you do it on a purpose, and that purpose will eventually create a life changing experience if ever your trades end up successfully. So never gets tired trading even if it means losing on your part, but as long as you only trade at a money you can afford to lose, I don’t think it will be an issue. The only problem with trading is when you keep on committing mistakes repeatedly and yet you don’t even learn from them, so probably you will always trade at a loss which is not surprising really.

Jody.Drummer

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I think the importance of determination and learning is enough to make me realize that.
To be honest, in my current condition, I actually have avoided trading at certain times, but that doesn't mean eliminating it.
Conditions where one might say we are bored when we keep losing and losing which makes us feel like this only takes up a lot of time, but actually there is a lesson to be learned from it because it is in such conditions that we can develop, it's just that we are able or not to learn for what we have done.

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Quote from: virasisog on February 08, 2023, 11:21:27 AM

Trading will not be a waste of time if you are using doing it efficiently and effectivelyy. I have been doing trading during my vacant time after my full-time job and I'm doing it for different reasons. My purpose is to earn and to learn continuously. Trading is a long process of learning and doing actual trading will be an effective thing for us to learn easily. If we have the right mindset that trading could bring us into a challenging journey, we will know how to handle the boredom and find the challenges more exciting each day.

Trading despite of it being boring and hard, will always be challenging and exciting because we have the goal to become successful and profitable every time we trade. So it’s a matter of setting your right mindset towards trading, because no matter how hard and risky it is, once we start seeing good profits after we trade, then those negativity we feel suddenly vanish and turn everything into positive. That’s the power of success, as long as trading ends up successfully, we become excited again to trade for profits.

mvdheuvel1983

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Quote from: Davidvictorson on February 04, 2023, 01:39:09 PM

If you are an experienced trader reading this, how did you know that you were not wasting your time trading at the time when you felt this way?

Patience is the key to success in trading. You lose more but one good win will make up for all the losses. One thing, beginners should know is that trading is not that difficult, but we make it difficult due to our impatience waiting for the best setups and instead jumping into average ones which set us back.
One thing I know for sure, do not give up, do not quit no matter what comes your way. The rewards that come with being a good trader is something I bet you will be proud of forever.

Aliosky

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I am yet to start trading crypto currency but i have a few knowledge about it, i watch videos online and i learn from a very close friend of mine. Sometimes he tells me Cryto can be terrible at times and you're not sure what to do next and this usually happens when you're working in a trade that you think you already know how to do well. To be completely honest, there will be times when you want to give up when things don't go as to plan. Observing oneself lose money you've already committed to trading is not enjoyable. However, what keeps you going is the resolve of your prepared mindset to handle any trading-related outcomes.

AicecreaME

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Quote from: Davidvictorson on February 04, 2023, 01:39:09 PM

Trading can be a lonely and boring business at some point because, you do not have anyone to talk to and are just alone with your computer, phone, or tablet in your room, just trading. And many newbies may at some point think that they are probably wasting too much of their time. If you are in this situation right now, I want you to know that you are not wasting your time.

If you are an experienced trader reading this, how did you know that you were not wasting your time trading at the time when you felt this way?

Learning something new isn't a waste of time, actually everything that we do which gives us happiness or enjoyment is not a waste of time. Trading is a long term process, which consist of so many things, like you're going to face a lot of challenges, failures, disappoinment, happiness, contentment, etc. I believe the only thing that will waste anyone's time is when they shut themselves out by not trying anything to make their life happy, comfortable, and successful.

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